Rupee marginally higher, euro losses cap rise

Rupee marginally higher, euro losses cap rise

The rupee edged up to 53.65/66 versus its previous close of 53.6950/7150 as sentiment was positive on the back of gains in the domestic share market, but losses in the euro put a floor to the fall.

The 30-share Bombay Stock Exchange Sensex was trading up 0.8 per cent in line with other Asian stock markets. Most Asian currencies are also trading higher compared to the dollar.

The euro is under pressure after a Greek court ruled the country's pension reform demanded by foreign lenders may be unconstitutional, raising concerns about Athens' ability to implement austerity measures needed to secure bailout money.

The pair is expected to hold in a 53.50 to 53.70 range in the first half of the session.

Copyright: Thomson Reuters 2012